Abstract: To study the value of 3PL enterprises in alleviating the problem of supply chain capital constraints, a Stackelberg game model under two financing strategies including 3PL financing and retailer financing is established in a supply chain system consisting of retailers, 3PL enterprises and capital constrained manufacturers, considering factors such as the acceptance of direct sales channels, market competition intensity and financing interest rates. Then, the optimal pricing strategy of decision makers in a dual-channel supply chain is obtained. Results show that under two financing modes, manufacturers’ wholesale prices, direct channel prices, retailers’ prices, and freight cost of both channels are positively related to the intensity of market competition; direct channel prices and direct channel freight costs are positively related to direct channel acceptance, while retailers’ prices, manufacturers’ wholesale prices, and resellers’ freight costs are negatively related to it. 3PL enterprises providing financial services can effectively relieve the financial pressure on manufacturers. Moreover, the profit of manufacturers choosing 3PL financing is higher than that of choosing retailer financing, and 3PL enterprises can also benefit from providing financial services.

Key words: third party logistics financing, logistics + financial services, capital constraints, dual channels